A Business Revitalization Zone (BRZ) is a unique opportunity for businesses to work together to accomplish mutual goals. Customers want safe, interesting and attractive places to shop, dine and conduct business.
A BRZ can attract customers and enhance an area through:
A BRZ is initiated at the request of a business community. It is set up and governed by a combination of provincial legislation and City policy.
When a BRZ is created, City Council establishes a business association, sets the BRZ boundary, and approves a Board of Directors and annual budget. The budgeted amount is collected through a special tax levy of BRZ members.
Once established, City Council annually approves the BRZ’s budget, Board of Directors, and special tax levy. All monies collected by the City are returned to the Business Association in quarterly instalments to fund the BRZ’s initiatives.